Trump accuses China of violating preliminary trade deal
President Donald Trump said China has violated a preliminary trade agreement with the U.S.
“So much for being Mr. NICE GUY!” Trump wrote in a social media post that said China had reneged on a deal that paused retaliatory tariffs between that country and the U.S.
Stock futures fell shortly after Trump’s statement.
U.S.-China trade talks “are a bit stalled,” requiring the two countries’ leaders to speak directly, Treasury Secretary Scott Bessent told Fox News.
After a rapid escalation in trade tensions last month, Bessent helped U.S. and China reach a breakthrough agreement in Switzerland on May 12.
The U.S. has pushed ahead with tech restrictions on China, while China has yet to significantly ease restrictions on rare earths.